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Tatas to Raise Additional Rs 15,000 Crore – Tatas plan to raise more than Rs 15,000 crore as the giant has been hit by the recession in the west. Tatas have already got Rs 13, 000 crore from the sale of a telecom subsidiary. Other than Resource mobilisations through public offer of debt securities, sale of Tata Motors’ vehicle loan pool, private equity placement and soliciting public deposits, the group is also looking for support from UK and Dutch governments for rescuing its prized purchases Corus and Jaguar-Land Rover. Though Tata Motors has already raised Rs 27, 000 crore through public deposits, it is also believed to be planning to raise Rs 10,000 crore by selling its vehicle loan pool. Tata Capital, on the other hand, is looking to raise about Rs 1,000 crore through a public offer of debt securities. (Business Standard)

Fortis Plans Rights and Warrants Issue for Rs 1800 crore – 2000 crore – Fortis Healthcare is in advanced stages of finalising a Rs 1,800 crore to Rs 2,000 crore rights and warrant issue to support its expansion plans. The rights issue is expected to be between Rs 850 and Rs 1,000 at a 1:2 ratio. The warrants issue to raise another Rs 800 crore will be linked with the rights issue. The rights issue and the warrants issue exceeds the company’s current market capitalisation of Rs 1,590 crore. According to sources, the rights would be priced at a premium to the market price of Rs 70. Reports suggest that the company is expected to make three acquisitions in the next few months. This may include majority stakes in hospitals and even land acquisition in strategic markets. (Business Standard)

ACC defers RMS expansion plans – ACC, India’s largest cement manufacturer has put on hold Rs 600 crore capacity enhancement plan for its RMC (ready-mix concrete) business, ACC concrete, for an indefinite period. This comes as a result o poor demand from developers due to the credit crunch. The company also laid off 165 people from its pay roll last month. The company will increase its number of plants to 40 this month from its current 32 and will stop expanding after that. (Business Standard)

Bird Group of Companies to Get Restructured, RNIL to Hold Majority Stake – The govt. has approved making OMDC (Orissa Mineral Development Corporation) a subsidiary of RNIL (Rashtriya Ispat Nigam Limited), a public sector undertaking. Bird Group of Companies will be financially re engineered and all its companies will be made subsidiaries of RNIL. The government’s shareholding in the Bird Group of companies that deal in iron, steel and manganese, is in the range of 14 to 50 per cent. However, the companies would be re structured in such a manner that RNIL will have a majority stake in them. (Business Standard)

Cyro Bank Aims at Rs 300 Crore Revenue in Next 4 Years – Cyro Bank India international is expecting revenue of Rs 300 crore by 2011-2012 as the bank is looking at expansion in India and making stem cell banking more popular in the country. The bank registered revenue of Rs 8 crore last fiscal year and expects revenue of Rs 25 crore this fiscal year. The company also plans to expand its presence in the smaller cities in the country and will cover 100 towns by the end of the year from the current 50 towns. (The Economic Times)

NAL enters into JV with M&M – The National Aerospace Laboratories (NAL), Bangalore, has entered into the country’s first public-private JV in aircraft design with Mahindra and Mahindra (M&M) to produce General Aviation Aircraft. The NM5-100 General Aviation Aircraft (GAA), four to five seater is being jointly developed by NAL and Mahindra Aerospace. The first test flight is expected by the end of the next year. (Business standard)

Ranbaxy to Sell 3 Plants to Rationalise Costs – Ranbaxy laboratories may sell three plants in China, Malaysia and Vietnam to rationalise its portfolios and cut costs. It has been learnt that the company has started looking for buyers. Reports suggest that the three plans could be valued at around $25-30 million. This would be Ranbaxy’s first sale post it acquisition by Japan’s Daiichi Sankyo, which now holds 64% stake in the company. (The Economic Times)